Home >Markets >Stock Markets >HDFC to raise up to 5,000 cr via bonds, the issue opens on Friday

NEW DELHI : Mortgage lender HDFC Ltd on Wednesday said it will raise up to 5,000 crore by issuing non convertible debentures (NCDs) on a private placement basis.

The issue will open on March 5, 2021 and close the same day, HDFC said in a regulatory filing.

The base size of the issue of secured redeemable NCDs is 2,000 crore with an option to retain oversubscription up to 3,000 crore, it added.

"The object of the issue is to augment the long-term resources of the Corporation. The proceeds of the present issue would be utilised for financing/refinancing the housing finance business requirements of the Corporation," it said.

The coupon rate on the bonds, set to mature on March 8, 2023, is fixed at 5.30% per annum. The arranger of the issue is ICICI Bank.

HDFC stock closed at 879.80, up 8.62% on BSE.

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